Do you have an idea for a business and want to see whether you can run it from home? It can be a pretty exciting thing to go through and experience, but there are lot of things you’ll need to research, plan and be aware of first. In this post, we’re discussing some of the major things to think about when it comes to setting up a business at home and making a success of it.
Finding The Space
First and foremost, you need to find the appropriate amount of space if you are going to be able to run your business from home. However, it’s often the case that you actually need a lot less than you think, at least to start with. Consider the different options you have around the home, be it a spare room, corner of a bedroom or a dedicated study space.
Making The Home Safe
If you’re going to run a business from home, especially if you’re ever going to have other people there working with you or customers visiting you, you’ll need to make sure your home is safe to work in. Consider practical issues that might need sorting out, from foundation repair to commercial roof repair and electrical safety, as well as ensuring any business equipment you need to invest in will be safe kept in the property.
Plotting The Business Out
The business itself obviously needs to be planned out well too, and you should make sure that you are doing all you can to get this right. The sooner you start working on this, the better, and you’ll find that it really does make a world of difference when it comes to what you are going to achieve with your business. So start planning and see what kind of future ideas you can come up with. Think big – there is so much that you can do if you are keen on trying to get this right.
Registering Your Business
A slightly boring but fundamental thing you’ll need to do is register your business with HMRC, whether you plan to operate as a sole trader, partnership or limited company. They’ll need details of your home address where your business is based and will be able to provide input and advice on what insurance and permits you need to run a business from home.
